Defence Offset Policy Needs to Work Better

In February 2018, the Ministry of Defence (MOD) informed the Standing Committee on Defence (SCUD) that in 11 of the 42 offset contracts signed till then, a final/interim penalty, totalling USD 38.19 million, had been imposed on account of shortfall in the discharge of the offset obligation by the vendors.

Based on this input, SCoD advised the MoD to ‘ensure that the penalties imposed on the defaulter vendors reasonably compensate for the losses incurred due to a shortfall in the discharge of offset obligations.’ Read More

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